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Slide #81. Horizon Bancorp — SCB Bancorp Inc.
Horizon Bancorp (NASDAQ:HBNC)
SCB Bancorp Inc.
Horizon Bancorp (NASDAQ:HBNC) ("Horizon"), the parent of Horizon Bank, N.A., announces the completion of the acquisition of SCB Bancorp Inc. ("SCB") and its wholly-owned subsidiary, Summit Community Bank, effective April 3, 2014 through the merger that was initially announced in November of 2013. Pursuant to the merger, SCB was merged into Horizon and simultaneously Summit Community Bank was merged into Horizon Bank, N.A. As previously announced, the banks will operate under the name Horizon Bank.
Horizon Bancorp is a bank holding company. Through its bank subsidiary, Horizon Bank (the Bank) and other affiliated entities and its subsidiary, Horizon Risk Management, Inc., Co. provides a range of banking services in northern and central Indiana and southern and central Michigan. The Bank is a commercial bank providing commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking. The Bank's subsidiaries include: Horizon Investments, Inc., which manages the investment portfolio of the Bank; and Horizon Properties, Inc., which manages the real estate investment trust.
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Strong Buy (3.75 out of 4)